Gamers failed to buy enough games for new consoles to make up for a steep fall in demand for older formats

Game Digital shares have dived nearly 40% as the retailer warned that profit would fall sharply after worse than expected sales of games in the run-up to Christmas.

The seller of video games and consoles said UK sales for the 21 weeks to 19 December fell 11.4% to £353.4m as gamers failed to buy enough games for new consoles to make up for a steep fall in demand for older formats.

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